LAW - Ch-10

What name is given to the person responsible for setting up a company?

• 1. Chair

• 1. Formation agent

• 1. Company secretary

• 1. Promoter

Where are important statutory notices relating to companies published?

• 1. HMRC website

• 1. The Financial Times

• 1. The Gazette

• 1. .Public Records Office

Which of the following is NOT required to be sent to the registrar when forming a company?

• 1. Memorandum of Association

• 1. Articles of Association

• 1. Statement about persons with significant control

• 1. Statement of capital

Which of the following MAY be permitted when choosing a company name?

• 1. The same name as an existing company

• 1. The use of offensive words

• 1. The use of the word "charity"

• None

Which companies must apply for a Trading Certificate in order to incorporate?

• 1. Private companies only

• 1. Public companies only

• 1. Both private companies and public companies

• None

A business has been registered under the name “The Mark Jones Partnership Co Ltd”.

What type of business organisation must this be?

• 1. A partnership

• 1. A private limited company

• 1. A public limited company

• 1. Any of the above as this is a business name

Which of the following statements about company formation are correct?

(1) Purchasing a company “off the shelf” enables business to commence more quickly

(2) It is generally cheaper to purchase a company “off the shelf” than to arrange for a solicitor or accountant to register a new company

(3) Incorporating a company by registration enables the company’s documents to be drafted to the particular needs of the incorporators

• 1. 1 and 2 only

• 1. 2 and 3 only

• 1. 1 and 3 only

• 1. 1, 2 and 3

Which of the following statements about a company limited by shares is correct?

(1) It is not possible to register a company limited by shares with the same name as a company already on the register

(2) Once on the register, a company limited by shares cannot change its registered office

• 1. 1 only

• 1. 2 only

• 1. Both 1 and 2

• 1. Neither 1 nor 2

Which of the following statements relating to the commencement of trade by a company are correct?

(1) A public company cannot commence trading until it has received a trading certificate from the Registrar of Companies

(2) If a public company commences trading without a trading certificate, the directors may be held jointly and severally liable for obligations arising

(3) A private company may commence trading upon receipt of its certificate of incorporation

• 1. 1 and 2 only

• 1. .2 and 3 only

• 1. 1 and 3 only

• 1. 1, 2 and 3

Which of the following statements about the formation of a company is FALSE?

• 1. Promoters must include a Memorandum of Association in the documents submitted to the Registrar of Companies

• 1. A company cannot be registered with the same number as a company already on the register

• 1. A company must include a statement of authorised capital in its articles of association

• 1. The directors of a newly registered company cannot also act as directors of another company